Fast Retailing Co., Ltd. and Mitsubishi Corporation have established a joint venture to expand business through the opening of UNIQLO stores in the Republic of Indonesia. Fast Retailing will hold a 75% stake, while Mitsubishi Corporation will hold a 25% stake, with capital of 1 billion yen.
UNIQLO began opening stores in Asia in 2002 and has since expanded its store network to China, Hong Kong, South Korea, Taiwan, Singapore, and other countries. As of January 2013, the company has 338 stores in Asia. Mitsubishi Corporation began its Indonesian operations in 1954 and currently has business investments in 43 companies, including energy, automobiles, and chemicals. The two companies also established a joint venture in Thailand in 2011, expanding the number of stores to six.
UNIQLO's first Indonesian store will open in the summer of 2013 within the newly constructed Lotte Shopping Avenue in the Kuningan area of Jakarta, home to many shopping malls. The store, which is one of the largest existing stores in Southeast Asia, covers an area of approximately 2,600 square meters and offers an overwhelming selection of products for men, women, kids, and babies, as well as high-quality Japanese-style service.